Question

6-Which type of income and expenses are recorded in Income and Expenditure account?

Answer 1

Income and Expenditure Account is prepared on an accrual basis. All incomes and expenses relating to the accounting year, whether they are actually received and paid or not, are taken into consideration. Expenditure is recorded on the debit side and income is recorded on the credit side.

Answer 2

Answer:

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Explanation:

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